China’s Sinovel to Divest Overseas Units After U.S. Indictment

July 1 (Bloomberg) -- Sinovel Wind Group Co., China’s
third-biggest wind-turbine maker, agreed to divest four units
abroad after it was charged with stealing trade secrets from its
former U.S. supplier.

The units are in the U.S., Belgium, Italy and Canada,
Sinovel said today in a filing to the Shanghai stock exchange,
without giving more details. Wang Wen, a Beijing-based
spokeswoman at Sinovel, declined to comment.

U.S. prosecutors secured an indictment of the company and
two of its executives in federal court in Madison, Wisconsin on
June 27 on charges of stealing source code for the turbine
controllers made by American Superconductor Corp.